Rave buys three Cincinnati-area Showcase Cinemas

Rave Cinemas LLC has purchased 29 theaters from National Amusements, including three in Greater Cincinnati.

Dallas-based Rave now lists these former Showcase theater locations on its Web site: Western Hills; Kings Island; and Milford. The company will operate the Rave Motion Pictures complex in West Chester, as well.

All of the cinemas acquired in the deal will operate under the Rave Motion Picture name.

That brings Rave’s portfolio of theaters to 65, in 20 states, according to a news release. More theaters are likely to join the fold, said Rave spokesman Jeremy Devine, .

“Throughout the country, there are other theaters that may be part of a subsequent transaction,” Devine said in a phone interview.

Rave Cinemas is a newly formed entity headed by the former managers of Rave Reviews Cinema LLC, which owned the Rave Motion Pictures brand. Rave Cinemas is backed by equity firms Tower Brook Capital Partners LP and co-investors Lambert Media Group and Charles Moss Jr.

The entity was founded to pursue purchases of both National Amusements and Rave Reviews theaters, according to the release. The goal is to make Rave the fifth-largest movie theater chain in the U.S. by box office sales and number of screens. The new company acquired four theaters from Rave Reviews, which will retain ownership of 21 theaters. Those will be managed by Rave Cinemas under a management services agreement, according to the release.

National Amusements (NYSE: NAI) has been selling off and closing theaters to pay down debt. Over the past 18 months, the company has shut down Showcase theaters in Norwood, Erlanger and Kenwood Towne Centre.

Dedham, Mass.-based National Amusements also has a theater complex in Florence.